Journal article
Financial development and economic growth in Vietnam
Journal of Economics and Finance, Vol.35(3), pp.348-360
2011
Abstract
By making use of a panel dataset that covers 61 provinces of Vietnam over the period 1997 to 2006, this paper examines the link between financial development and economic growth. Our analysis, which is based on endogenous growth theory, reveals that financial development has contributed to economic growth in Vietnam. We find that high ratio of credit to Gross Provincial Product (GPP) has accelerated economic growth in Vietnam. We also found a strong positive link between financial development and economic growth when alternative measures of financial development were used. The impact of foreign direct investment on economic growth will be stronger if more resources are invested in financial market development.
Details
- Title
- Financial development and economic growth in Vietnam
- Authors
- Sajid Anwar (Author) - University of the Sunshine Coast - Faculty of BusinessL P Nguyen (Author) - State Bank of Vietnam, Vietnam
- Publication details
- Journal of Economics and Finance, Vol.35(3), pp.348-360
- Publisher
- Springer New York LLC
- Date published
- 2011
- DOI
- 10.1007/s12197-009-9106-2
- ISSN
- 1055-0925
- Organisation Unit
- School of Business and Creative Industries; Indigenous and Transcultural Research Centre; University of the Sunshine Coast, Queensland; USC Business School - Legacy
- Language
- English
- Record Identifier
- 99449703202621
- Output Type
- Journal article
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